Toyota to Establish New North American Headquarters in
Texas

Toyota Technical Center in Michigan to Expand as Part of Increased
Investment in Engineering Capabilities April 28, 2014

Torrance, CA,
Erlanger, KY, New York, NY, and Ann Arbor, MI--April 28, 2014:
–Toyota today announced that it is establishing a new headquarters in
North Dallas (Plano), Texas for its North American operations in a move
designed to better serve customers and position Toyota for sustainable,
long-term growth.

Within the next three years, Toyota’s three separate North
American headquarters for manufacturing, sales and marketing, and corporate
operations will relocate to a single, state-of-the-art campus in Plano.
Toyota’s North American finance arm also plans to move its
headquarters to this new shared campus. Altogether, these moves will affect
approximately 4,000 employees.

At the same time, Toyota will expand the Toyota Technical Center (TTC)
in Michigan to accommodate the relocation of direct procurement from
Erlanger, Ky., to its campus in York Township near Ann Arbor. This
expansion is part of an increased investment in engineering capabilities
and will accommodate future growth in product development.

The transition to Plano from three current headquarters locations
– affecting approximately 2,000 employees at Toyota Motor Sales,
U.S.A., Inc. (TMS) in Torrance, Calif.; about 1,000 employees at Toyota
Motor Engineering & Manufacturing North America, Inc. (TEMA) in Erlanger,
Ky.; and certain employees at Toyota Motor North America (TMA) in New York,
N.Y. – will begin with initial small groups this summer. However, the
majority of these employees will not move until construction of
Toyota’s new headquarters is completed in late 2016 or early 2017.
Toyota Financial Services (TFS) is not expected to transition to Plano from
its current headquarters in Torrance, Calif., until 2017, which will affect
around 1,000 employees.

Jim Lentz, who was named Toyota’s first chief executive officer
for the North America Region in 2013, said: “With our major North
American business affiliates and leaders together in one location for the
first time, we will be better equipped to speed decision making, share best
practices, and leverage the combined strength of our employees. This, in
turn, will strengthen our ability to put customers first and to continue
making great products that exceed their expectations. Ultimately, enabling
greater collaboration and efficiencies across Toyota will help us become a
more dynamic, innovative and successful organization in North America. This
is the most significant change we’ve made to our North American
operations in the past 50 years, and we are excited for what the future
holds.”

In support of the communities in California and Kentucky, Toyota also
announced a $10 million philanthropic commitment to provide continued
funding for local non-profits and community organizations in these states
over a five-year period beginning in 2017, over and above existing
commitments.

The establishment of a new headquarters builds upon previous efforts by
Toyota to enhance regional autonomy, self-reliance and responsibility.
While the sales and marketing, manufacturing and corporate business units
will retain their responsibilities and operating names, Toyota expects that
new cross-functional teams will identify and execute on ways to serve the
broader North American organization.

Toyota will construct a new, environmentally-sustainable campus facility
in Plano, which is expected to take two or more years to construct after
groundbreaking in the fall of 2014. Until the new campus facility is
complete, initial small groups of employees will work from a temporary
location in the Plano area.

Toyota will also build a new facility on TTC’s York campus
(subject to final approval of state and local incentives) to accommodate
approximately 250 direct procurement positions currently based at TEMA in
Erlanger.

In addition, about 300 production engineering positions based in
Erlanger will be relocated to a new facility to be built at Toyota Motor
Manufacturing Kentucky (TMMK) in Georgetown, Ky., while approximately 1,000
TEMA administrative positions will transition to Plano.

Toyota’s 10 manufacturing plants in the U.S. will not be impacted
by these changes. Also, the following Toyota units will not be impacted at
this time:

After moving from its existing headquarters, Toyota will continue to
have approximately 2,300 employees in California and 8,200 employees in
Kentucky. This includes 750 new jobs being added at TMMK for production of
the Lexus ES, which begins in 2015. Toyota will also continue to maintain
offices in the New York City area and Washington, DC.

The move will not impact Toyota’s relationship with Gulf States
Toyota, Inc. (GST), a private distributor of Toyota vehicles based in
Houston, Texas.

Toyota Financial Services (TFS) is a service mark used to refer to a
number of entities, including Toyota Motor Credit Corporation (TMCC),
Toyota Financial Savings Bank (TFSB), and Toyota Motor Insurance Services,
Inc. (TMIS).